Guideline Value for Govindaswamy Nagar 5th Street

Govindaswamy Nagar 5th Street guideline value

The current guideline value of Govindaswamy Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024. This street is located in Madipakkam-1 village under the Velacheri SRO, and the land classification is Residential Class II Type - I.

How the guideline value of Govindaswamy Nagar 5th Street has changed

In the 2017 revision, the guideline value was Rs 1,340 per sq.ft. With the latest 2024 revision, the value has increased significantly to Rs 2,200 per sq.ft, marking a change of +64%. The register has no figures for the years 2023, 2012, 2007, 2003, and 2002 for this street.

Thus, the only revisions recorded for Govindaswamy Nagar 5th Street are from 2017 to 2024, showing a substantial increase in the guideline value over this period.

Guideline values in Madipakkam-1

In Madipakkam-1, there are 1,823 streets under the Velacheri SRO that have a 2024 guideline value ranging from Rs 1,650 to Rs 5,500 per sq.ft, with the median value being Rs 2,750 per sq.ft. The guideline value of Rs 2,200 per sq.ft for Govindaswamy Nagar 5th Street is below this median.

• Govindaswamy Nagar 6th CrossStreet: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 5th Cross Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 6th Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 4th Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 7th Cross Street: Rs 2,200 per sq.ft (2024)
• Govindaswamy Nagar 7th Street: Rs 2,200 per sq.ft (2024)

Stamp duty and registration fee for property in Govindaswamy Nagar 5th Street

For a 1,000 sq.ft plot at the current guideline value of Rs 2,200 per sq.ft, the total guideline value would be Rs 22,00,000. The stamp duty at 7% would amount to Rs 1,54,000, and the registration fee at 2% would be Rs 44,000, totaling Rs 1,98,000. It is important to note that the duty is charged on the higher of the guideline value and the sale price.

You can use our stamp duty and registration fee calculator for more details.

Which Sub Registrar Office covers Govindaswamy Nagar 5th Street?

The Sub Registrar Office covering Govindaswamy Nagar 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Madipakkam-1

The guideline value is a crucial factor when registering property transactions in Madipakkam-1. It serves as a benchmark for determining the minimum value at which a property can be registered, ensuring transparency in property dealings.

When buying or selling property, the guideline value is used to calculate applicable stamp duty and registration fees. This ensures that both parties are aware of the financial obligations involved in the transaction.

Frequently asked questions

What is the current guideline value of Govindaswamy Nagar 5th Street?

The current guideline value of Govindaswamy Nagar 5th Street is Rs 2,200 per sq.ft, effective from 1 July 2024.

How much has the guideline value changed over the years?

The guideline value increased from Rs 1,340 per sq.ft in 2017 to Rs 2,200 per sq.ft in 2024, which is a change of +64%.

Are there any years without a recorded guideline value for this street?

Yes, the register has no figures for Govindaswamy Nagar 5th Street for the years 2023, 2012, 2007, 2003, and 2002.

What is the median guideline value for streets in Madipakkam-1?

The median guideline value for streets in Madipakkam-1 is Rs 2,750 per sq.ft, while Govindaswamy Nagar 5th Street's value is below this median.

Where can I find the Sub Registrar Office for this area?

The Sub Registrar Office for Govindaswamy Nagar 5th Street is the Velacheri Sub Registrar Office, located at No.17/39, Rajalakshmi Nagar 3rd Main Road, Velachery, Chennai 600042.